Business
Result of Open Offer
Result of Open Offer.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2311H\n Borders & Southern Petroleum plc\n 05 April 2022\n \n \n \n \n 5 April 2022\n \n \n \n \n \n Borders & Southern Petroleum Plc\n \n \n (\"Borders & Southern\" or the \"Company\")\n \n \n \n \n \n Result of Open Offer\n \n \n \n \n \n On 4 March 2022, Borders & Southern Petroleum plc (AIM: BOR.L) announced that the Company had conditionally raised US$600,000 by way of a Subscription for 34,702,000 new Ordinary Shares. The Company also announced an Open Offer to existing shareholders to raise up to US$1.2 million through the issue of up to 69,156,914 new Ordinary Shares. \n \n \n \n \n \n The Company is pleased to announce that the Open Offer was oversubscribed. As a result, the Company has raised a total, including the Subscription, of £1.35 million (US$1.8 million), before expenses, through the issue of a total of 103,858,914 new Ordinary Shares. Due to the oversubscription, excess applications under the Open Offer will be scaled back as set out in the Company's circular dated 11 March 2022.\n \n \n \n \n \n The issue of the Subscription Shares and the Open Offer Shares is conditional on the passing of two Resolutions at the General Meeting tomorrow. The Company will announce the result of the General Meeting after it has concluded.\n \n \n \n \n \n Unless otherwise defined, capitalised terms have the same meaning as per the Company's circular dated 11 March 2022.\n \n \n \n \n \n For further information please visit \n \n \n www.bordersandsouthern.com\n \n \n or contact:\n \n \n \n \n \n \n \n \n Borders & Southern Petroleum plc\n \n \n Howard Obee, Chief Executive\n \n \n Tel: 020 7661 9348\n \n \n \n \n \n \n \n \n \n Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker)\n \n \n Ritchie Balmer / James Bellman\n \n \n Tel: 020 7409 3494\n \n \n \n \n \n \n \n \n \n Auctus Advisors LLP (Joint Broker)\n \n \n Jonathan Wright\n \n \n Tel: 07711 627449\n \n \n \n \n \n Tavistock (Financial PR)\n \n \n Simon Hudson / Nick Elwes\n \n \n Tel: 020 7920 3150\n \n \n \n \n \n \n \n \n Notes:\n \n \n Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR). The Company operates and has a 100% inter...